Home
What's new
Latest activity
Authors
Store
Latest reviews
Search products
Forums
New posts
Search forums
What's new
New posts
New listings
New products
New profile posts
Latest activity
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
Cart
Cart
Loading…
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Search titles only
By:
Menu
Log in
Register
Navigation
Install the app
Install
More options
Change style
Contact us
Close Menu
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
Investing to make my money work for me!
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="ON D BIT" data-source="post: 14071292" data-attributes="member: 10422"><p>Tim, </p><p></p><p>A couple things that you should know and study on. </p><p>If you want to be rich/wealthy start a business. </p><p>Salesman can make a lot of money/currency as well. From my experience these people generally spend a lot of money as well and their overall bottom line is not impressive.</p><p>The borrower is slave to the Lender. The Lender(banks) are the ones getting rich because people are impatient. </p><p></p><p>However everyone can do the following:</p><p>Cash is King.</p><p>Live on less than you make.</p><p>Do not borrow money. Yes people with normal incomes still buy houses with cash. If you are not that committed, 20% down and a 15 year fixed loan will save you hundreds of thousands of dollars on a medium priced home.</p><p>Save. Emergancy fund(3-6 months of expenses), Retirement(401k, Roth IRA, Mutual Funds, Diversification, etc), and Family(529 plan).</p><p>Investing/Retirement needs to be long term. There is simply too much unknown and fluctuation short term. I look for MF that have a 20+ year track record ave 8-12% growth every year. </p><p>Time and consistency wins in investing. As an example: Starting with $1k and 500 dollars(what many people put into a car payment) savings every month at 9% for 30 years will equal $900k in todays dollars. Breaking that down, $180k contributed and $720k interest earned.</p><p>Another example: $500 every month for 20 years will equal 120k in contributed. The value of this investment in 40 years(by the time your 63 years old) will be 1.9 million or 1.78 million in interest earned.</p><p><a href="http://www.daveramsey.com/article/investing-calculator/lifeandmoney_investing/#/entry_form" target="_blank">http://www.daveramsey.com/article/investing-calculator/lifeandmoney_investing/#/entry_form</a></p><p></p><p>Books to read.</p><p>The Millionaire Next Door.</p><p>The Little Black Book That Still Beats The Market.</p></blockquote><p></p>
[QUOTE="ON D BIT, post: 14071292, member: 10422"] Tim, A couple things that you should know and study on. If you want to be rich/wealthy start a business. Salesman can make a lot of money/currency as well. From my experience these people generally spend a lot of money as well and their overall bottom line is not impressive. The borrower is slave to the Lender. The Lender(banks) are the ones getting rich because people are impatient. However everyone can do the following: Cash is King. Live on less than you make. Do not borrow money. Yes people with normal incomes still buy houses with cash. If you are not that committed, 20% down and a 15 year fixed loan will save you hundreds of thousands of dollars on a medium priced home. Save. Emergancy fund(3-6 months of expenses), Retirement(401k, Roth IRA, Mutual Funds, Diversification, etc), and Family(529 plan). Investing/Retirement needs to be long term. There is simply too much unknown and fluctuation short term. I look for MF that have a 20+ year track record ave 8-12% growth every year. Time and consistency wins in investing. As an example: Starting with $1k and 500 dollars(what many people put into a car payment) savings every month at 9% for 30 years will equal $900k in todays dollars. Breaking that down, $180k contributed and $720k interest earned. Another example: $500 every month for 20 years will equal 120k in contributed. The value of this investment in 40 years(by the time your 63 years old) will be 1.9 million or 1.78 million in interest earned. [url]http://www.daveramsey.com/article/investing-calculator/lifeandmoney_investing/#/entry_form[/url] Books to read. The Millionaire Next Door. The Little Black Book That Still Beats The Market. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
Investing to make my money work for me!
Top